Japaul Gold and Ventures Plc reports loss of N996.7 million in FY 2020

Japaul Gold and Ventures Plc released its full-year audited financial statements for the year ended 31st December, 2020.

  • Revenue for the period was N689.6 million. (-4.94% YoY)
  • Administrative expenses totalled N1.12 billion. (+75.95% YoY)
  • An operating loss of N826.44 million was incurred during the period.
  • Loss from continuing operations was N996.7 million. (-102.4% YoY)
  • Loss from discontinued operations was N1.18 billion.
  • Loss per share of -19 kobo. (-102.91% YoY)
  • No dividend announcement was made.

See link to results.

Japaul Gold reschedules Board meeting to June 1st

The Board of Japaul Gold and Ventures Plc has rescheduled its Board meeting originally scheduled to hold on the 30th of March to 1st of June, 2021

This is according to a recent disclosure by the company which reads: ‘’Please be informed that the Board Meeting earlier scheduled pursuant to the approval obtained from the Exchange to hold on the 30th March, 2021 to receive and consider the Audited Financial Statements of the company for the period ended December 31, 2020 has been rescheduled for the 1st June, 2021.’’

On the other hand, despite the shift in the date for the board meeting, the firm however did not adjust its close period. It maintained its earlier stance that the close period remains 27th of March, 2021.

Recall that Japaul Gold had earlier announced that it will hold a virtual board meeting on the 30th day of March, 2021 by 10:00am. The meeting which is scheduled to be held via zoom is expected to consider among other things, the audited financial statements of the firm for the period ended December 31, 2020.

The firm in April 2021 notified shareholders and other relevant stakeholders, of its inability to file its audited financial statements for the year ended 31 December 2020 as expected which was due for submission on the regulatory date of 31st of March, 2021. The firm attributed this delay to the impact of the COVID-19 pandemic which slowed down the company’s operational bases and as a result of which key officers are indisposed.

It is pertinent to note that the firm is yet to release its FY 2020 results.  In this regard, the firm assured stakeholders that the audit exercise is still in process and that all measures will be taken to ensure that the result is filed in good time.

Beta Glass Plc to hold Annual General Meeting on 1st of July

The Board of Beta Glass Plc has announced that it will be hosting its 47th Annual General Meeting on the 1st of July, 2021.

This is according to a notification signed by the company’s secretary, Bola Adebisi, and seen by Nairametrics. Sequel to this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • The firm’s proposed dividend will be considered and approved. It is worthy to note that If ratified, the dividend will become payable on 2nd of July, 2021.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.
  • To renew general mandate for related party transactions.

What you should know:

  • Beta Glass Plc had earlier reported a profit after tax of N3.47 billion in FY 2020.
  • In line with CAC guidelines, attendance at the AGM will be by proxy.
  • The link for the Annual General Meeting will be made available on the company’s website: http://www.frigoglass.com/beta-glass-investors/

For more information about the AGM, click HERE.

Enamelware Plc records a loss of N280.05 million in FY 2020.

Enamelware Plc released its full-year unaudited results for the period ended 30th April, 2021.

  • Revenue for the period was N297.7 million. (-40.2% YoY)
  • Cost of sales was N432.01 million.( -42.2% YoY)
  • Administrative expenses totalled N109.3 million.(+82.1% YoY)
  • Operating loss of N243.61 million was incurred.
  • Loss for the period was N280.05 million.
  • Loss per share of –N3.68 Vs –N4.61 YoY.

See link to results.

Cutix Plc posts profit after tax of N624.3 million in Q4 2020.

Cutix Plc released its fourth quarter unaudited results for the period ended 30th April, 2021.

  • Revenue for the period was N6.7 billion. (+34.2% YoY)
  • Cost of sales was N4.94 billion.(+34.8% YoY)
  • Administration expenses totalled N552.7 million.(-6.3% YoY)
  • Profit for the period was N624.3 million.(+101.8% YoY)
  • Earnings per share of 35 kobo Vs 18 kobo YoY.
  • Total assets per share of N2.56 Vs N1.99 YoY.

See link to results.

Dangote Cement Plc renews Share Buyback Programme

Sequel to the approval granted at the recently concluded 12th Annual General Meeting of the company, Dangote Cement Plc has announced the renewal of its Share Buyback Programme.

According to a disclosure signed by the company’s secretary, Edward Imoedemhe and seen by Nairametrics, the renewal of the Share Buyback Programme is premised on timelines and terms to be determined by Board of Directors, subject to obtaining requisite regulatory approval.

It is worthy to note that Nairametrics had earlier reported the initial commencement of the programme, in which the firm is expected to buy back 85 million issued shares of the company. The programme was meant to be effected in tranches, and the first tranche was executed by Meristem Stockbrokers Limited and Vetiva Securities Limited.

The Share Buy-Back Programme is in line with the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations (as applicable) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Stock Exchange (“The NSE”).

However, given the debilitating impact of the COVID-19 pandemic, the firm disclosed that it became apparently difficult for it to effectively implement the programme as planned. With the recent stabilization of the economy and improvement in economic conditions, evident by the growth in the nation’s GDP, the Board of Directors consequently agreed to fully implemnent further tranches of the programme.


For more information about the recent disclosure, click HERE.

Dangote Cement approves FY 2020 dividend payment of N16 per share.

The Board of Directors of Dangote Cement Plc has approved a dividend payment of N16 per share, to all shareholders whose names appeared in the Company’s Register of Members at the close of business on April 27, 2021.

This is part of the resolutions reached at the recently concluded 12th Annual General Meeting of the company, held on the 26th of May, 2021 at Eko Hotels and Suites, Victoria Island, Lagos.

Recall that the company had earlier reported a 38% surge in its profit after tax to N276.07 billion in FY 2020. Other key financial metrics like revenue and EPS all recorded a surge of 16% and 38% respectively.

Sequel to these impressive gains, a dividend of N16 was declared. This dividend figure remains unchanged when compared with 2019 figure. In light of this, the Board considers the dividend level appropriate and in line with the company’s strategic growth objectives. Accordingly, the approved dividend will be paid on all the 17,040,507,405 units of outstanding shares of the company, totalling N272.65 billion.

On the other hand, the company revealed that the total amount of unclaimed dividends outstanding as at 31st of December, 2020 is N4 billion, indicating an increase of about 14.3% YoY.


For more information, click HERE.

Lafarge Africa Plc approves dividend pay-out of N16.1 billion to shareholders.

The Board of Directors of Lafarge Africa Plc has approved the payment of N16.11 billion to the shareholders of the company who currently hold the 16,107,795,496 fully paid ordinary shares of the company.

This disclosure is part of the resolutions passed at the 62nd Annual General Meeting of the company, held on the 25th of May, 2021.

According to the notice: ‘’ A dividend of One Naira (N1.00) per ordinary share amounting to N16, 107,795,721.00 only was declared payable from the pioneer reserve and not subject to deduction of withholding tax in respect of the year ended 31st December, 2020; on Tuesday, 25th May 2021, to all shareholders registered in the books of the Company at the close of business on Friday, 30th April, 2021.’’

Other resolutions reached at the Annual General Meeting include;

  • The appointment of Mrs Oyinkan Adewale and Mrs Virginie Darbo into the company’s Board were reviewed and approved.
  • Three Directors retiring by rotation were re-elected. The Directors are; Adebode Adefioye, Mrs. Elenda Giwa-Amu, Mrs. Adenike Ogunlesi.
  • The remuneration of the Non-Executive Directors for the year ending 31st Decemeber 2021, was fixed at N112,626,792.87

What you should know:

  • Lafarge Africa Plc had earlier reported a profit after tax of N30.8 billion in FY 2020.
  • The dividend will be disbursed to qualified shareholders’, whose names appear in the Register of Members as at close of business on 30th of April, 2021.

For more information about the disclosure, click HERE.